According to the Evening Standard, the two auditors who approved MyTravel’s aggressive accounting regime in the years when Andersen was auditing its books are the same people that have now insisted on the reappraisal of its numbers.
The move has caused the travel company’s share price to tumble, amid concerns over a £50m hole in the company accounts.
An earlier profits warning forced the company’s chief executive, former finance director Tim Byrne, to resign two weeks ago.
Now pressure is mounting on current FD David Jardine to go – Jardine used to work for Andersen before taking over at the embattled travel company.
Does Darwin's theory apply to taxation? Colin ponders...
The EC has been instructed to draft a European Union (EU) directive authorising an EU financial transaction tax, which would apply to ten of the EU’s 28 member states
Accountancy watchdog the FRC has dropped its investigation into the former chief financial officer of Tesco, nearly two years after the supermarket was engulfed in an accounting scandal
Colin imagines how Apple's logo might change in the wake of the EC's ruling over its Irish tax arrangements